U.S. Gulf:
Early-week NOLA potash business was reported as high as $770/st FOB, with late-week transactions called $740-$750/st FOB. The week-ago range was $750-$770/st FOB.
U.S. Imports:
Imported MOP fell 23.2% for April, to 1.24 million st from the year-ago 1.61 million st. July-April totals stood at 11.37 million st, off 4.6% from the year-ago 11.91 million st.
Canadian imports for the July-April period stood at 9.70 million st. Russia sent 677,028 st to the U.S., a 48.1% year-over-year decline from 1.30 million st. Tons originating from Belarus were counted at 565,355 st, off 20.8% from 713,953 st last year.
U.S. Exports:
MOP exports firmed 46.8% in July-April, to 3.27 million st from the year-ago 2.23 st. Cargoes were noted at 405,024 st for April, up 154.9% from the year-ago 158,891 st.
Eastern Cornbelt:
Potash pricing remained at $770-$790/st FOB in the Eastern Cornbelt, depending on location, with the Cincinnati market pegged at $785/st FOB during the week.
Western Cornbelt:
Potash pricing was unchanged at $770-$790/st FOB in the Western Cornbelt, depending in location, with the low at St. Louis.
California:
Potash reference pricing remained at $875-$895/st FOB in California for 2Q tons, with the low reported for 60% MOP and the high for 62%.
Pacific Northwest:
Potash pricing remained in a broad range at $840-$880/st FOB and $855-$900/st DEL in the Pacific Northwest, depending on grade and location. The last reference prices from Intrepid FOB Moab and Wendover, Utah, included $850/st for 60% white standard and $855/st for 60% white granular.
Western Canada:
Sources quoted truck pricing for potash in a wide C$990-$1,080/mt range FOB Saskatchewan mines, depending on grade and supplier.
Bangladesh:
Offers into the Ministry of Agriculture tender for standard potash that closed on June 9 (GM June 9, p. 13) were reported to be in the range of $1,100-$1,150/mt CFR. These offers compare with the $1,045-$1,250/mt CFR tender awards by the ministry in early May (GM May 13, p. 18).
South Korea:
January-May 2022 imports were reported at 297,000 mt, marginally down from the 302,000 mt imported during the same period in 2021. Trade Data Monitor reported that Canada was the dominant supplier so far this year with 202,000 mt.
May 2022 imports were reported at 74,000 mt – almost all from Canada – against 46,000 mt during May 2021.
Brazil:
The price for MOP remains stable even as demand appears to be waning. Sources reported the landed price at $1,030-$1,150/mt CFR. Even with the price range narrowing, sources said buyers are still expressing concern that replacement tons for the second half of the year may not be as readily available due to sanctions against Russia and Belarus.
May 2022 imports were reported at 1.5 million mt, up 81% from the 822,000 mt imported in May 2021. The main suppliers of product in May 2022 were Russia with 509,000 mt and Canada with 478,000 mt.